Zenith, UBA and First Bank Lead Other Financial Houses in Transfers to TSA
Zenith Bank Plc, United Bank for Africa (UBA) Plc and First Bank of Nigeria Limited (FirstBank) are the three banks leading payments into the government’s treasury with the N513.425 billion of federal government’s funds paid into the treasury single account (TSA) as at October 27 .
A schedule of TSA payments obtained exclusively by THISDAY showed that by October 27, Zenith Bank, which had transferred a total of N241.328 billion, made the highest remittance of the federal government’s funds to the TSA domiciled with the Central Bank of Nigeria (CBN).
Zenith Bank was closely followed respectively by UBA with a total of N150.082 billion and FirstBank with N122.016 billion.
In all, a total of N836.714 billion was paid into the TSA by 20 banks as at October 27. However, the amount paid in by Zenith Bank, UBA and FirstBank represented 61 per cent of the entire transfers for all the banks.
The document also revealed that while Access Bank Plc transferred a total of N39.34 billion to the TSA, Diamond Bank remitted N27,28 billion, Ecobank Nigeria – N15.513 billion, Fidelity Bank Plc – N49.962 billion, First City Monument Bank Limited – N39.152 billion; Guaranty Trust Bank – N8.781 billion; Heritage Bank Limited – N20.480 billion and Jaiz Bank – N22.956 million.
The amounts transferred by other commercial banks also included Mainstreet Bank (now Skye Bank) – N31.598 million, Skye Bank – N39.628 billion, Standard Chartered Bank – N100.68 million, Stanbic IBTC – N5.75 billion, Sterling Bank Plc – N31.35 billion, Union Bank of Nigeria – N14.94 billion, Unity Bank – N2.46 billion and Wema Bank – N26.68 billion.
